Recently, a major retailer asked Lenati to assess its loyalty rewards program, which had first launched in the late 1990’s. By one metric—retention rate—the retailer’s program was still successful. But the program was failing to drive a large share of wallet, and execs wanted to know why.
 
Because the program had existed for so long, reports didn’t incorporate new data sets captured by more modern loyalty programs (for example, customer....

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